SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.7%

SoFi Technologies, Inc. (NASDAQ:SOFI) shares were down 1.7% during trading on Tuesday . The company traded as low as $7.61 and last traded at $7.73. Approximately 12,470,299 shares were traded during trading, a decline of 73% from the average daily volume of 45,449,152 shares. The stock had previously closed at $7.86.

Analyst Ratings Changes

A number of analysts have issued reports on SOFI shares. Barclays decreased their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. BTIG Research initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.14.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The firm has a market cap of $8.17 billion, a PE ratio of -24.94, a P/E/G ratio of 1.60 and a beta of 1.70. The stock’s fifty day moving average price is $7.38 and its 200-day moving average price is $7.16.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. SoFi Technologies’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The disclosure for this sale can be found here. Insiders have sold a total of 102,328 shares of company stock valued at $808,246 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in SoFi Technologies in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares in the last quarter. GAMMA Investing LLC boosted its stake in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in SoFi Technologies in the first quarter valued at about $37,000. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.